Turnover in oil and gas, manufacturing, mining and electricity supply, August 2004

Turnover within the Norwegian oil and gas extraction industry was somewhat lower than last month. Total turnover amounted to slightly over NOK 34 billion in August. Despite a high average price of oil, NOK 304 per barrel in August, the decrease in volume was so significant that the total turnover dropped. The turnover dropped mainly due to maintenance work and high export volumes in July.

Growth in intermediate goods

Seasonally adjusted figures for the last three-month period show a significant growth in total turnover for intermediate goods. The growth was strongest for refined petroleum products and chemicals and chemical products. The growth in turnover in this industry over the last three-month period was 16.2 per cent when compared with the previous period.

Stable turnover of capital goods

Seasonally adjusted figures from the last three-month period show stable turnover for capital goods. Most industries experienced a slight rise in turnover, however, fabricated metal products saw turnover fall by 2.0 per cent.

Growth in consumer goods

Turnover within consumer goods also increased over the last three-month period. The growth in turnover of food products was particularly strong. Seasonally adjusted figures show turnover growth at approximately 6.8 per cent compared with the previous three-month period.